Mubadala Investment Co., the Abu Dhabi sovereign investor, on May 7 announced an investment alongside Global Infrastructure Partners in Perdaman’s A$6.4 billion ($4.2 billion) 2.3 million mt/y Western Australia Urea Project (GM April 28, 2023), the largest such plant in Australia and one of the largest urea fertilizer facilities in the world.
Ground was broken on the facility in April 2023, with completion expected in mid-2027. The plant will incorporate the latest technology to ensure optimized energy efficiency and low emissions.
“Mubadala is delighted to diversify our growing portfolio with the investment into Perdaman’s world-class urea project in Australia,” said Saed Arar, Executive Director of Traditional Infrastructure, Mubadala. “The investment aligns with Mubadala’s responsible investing mandate, supporting national and regional food security ambitions while reducing the carbon footprint of urea production.”
In addition to displacing the import of coal-based urea, the plant will adopt clean technologies such as solar energy and green hydrogen to minimize industrial emissions and lower the carbon footprint of fertilizer production. Perdaman plans to make the plant net zero by 2050.
“Building on our long-standing relationship with Global Infrastructure Partners, we are excited to support Perdaman on its impressive and sustainable growth – with a focus on delivering projects that bring benefits to local communities and mitigate the impact of climate change,” Arar added.